Power-of-Sale Listings Are Up 40% in Ontario — What Mississauga Buyers Should Actually Do About It

Ontario recorded 2,979 power-of-sale transfers in 2025, up from 2,123 in 2024 — a roughly 40% increase, according to Teranet’s review of the market. Before anyone panics or starts hunting for fire sales, here’s what that number actually means.

What it is — and what it isn’t

A power of sale happens when a borrower defaults and the lender sells the property to recover the mortgage. It is not a sign the market is crashing. Teranet itself notes these transfers remain a small share of total Ontario transactions. This is a stress signal, not a flood.

The Bank of Canada’s assessment lines up: most borrowers are managing their renewals and overall arrears remain low — but it specifically flags greater pressure among Toronto-area borrowers who took out mortgages in 2022 and 2023. That renewal wave is landing right in our backyard.

What it means for buyers

More inventory, less panic, more room to negotiate — conditions Mississauga buyers haven’t seen in years. But a distressed label is not a discount guarantee. Some of these homes will be competitively priced. Some need work. Some come with lender schedules and as-is clauses that deserve a careful read from your lawyer. Evaluate the property, not the label.

And here’s the trap I watch buyers fall into: once they realize they have negotiating power, they start waiting for the perfect deal. Then they wait some more. If a well-located Mississauga home fits your budget and the price holds up against comparable sales, waiting for a theoretical bottom that nobody can identify in real time is just another way of overpaying — with your time.

What it means for sellers

If your renewal is coming up and the new payment worries you, don’t wait until the lender is driving. A homeowner who acts six months early can sell conventionally, prepare the property properly, and choose their own timeline. Once the lender controls the process, those options shrink fast. The first conversation should be about your numbers — what the home could sell for today, what’s owed, and what remains after selling costs.

The bottom line

Distressed sales are a small slice of this market. A well-priced, well-located home in Mississauga still draws competition. The real opportunity here isn’t a crash — it’s a market that’s finally letting buyers breathe, think, and negotiate.

Thinking about buying or selling in this market? Call me at (647) 892-2474. The first conversation is about your numbers — not a listing.

Sources: Teranet’s review of Ontario power-of-sale transfers (2,979 in 2025 vs 2,123 in 2024); Bank of Canada commentary on mortgage renewal stress among 2022–2023 Toronto-area borrowers.